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Benefit Plans and Other Postretirement Benefits
 6 Months Ended
Jun. 30, 2022
Retirement Benefits [Abstract]  
Benefit Plans and Other Postretirement Benefits
Components of Net Periodic Benefit Cost (Credit)
Three Months Ended June 30
2022202120222021
(Millions of Dollars)Pension BenefitsPostretirement Health
Care Benefits
Service cost$25 $26 $1 $1 
Interest cost (a)
28 26 4 3 
Expected return on plan assets (a)
(52)(51)(5)(5)
Amortization of prior service credit (a)
(1)(1)(1)(2)
Amortization of net loss (a)
18 27 — 2 
Net periodic benefit cost (credit)18 27 (1)(1)
Effects of regulation1 — — — 
Net benefit cost (credit) recognized for financial reporting$19 $27 $(1)$(1)
Six Months Ended June 30
2022202120222021
(Millions of Dollars)Pension BenefitsPostretirement Health
Care Benefits
Service cost$49 $52 $1 $1 
Interest cost (a)
55 52 8 7 
Expected return on plan assets (a)
(104)(103)(9)(9)
Amortization of prior service credit (a)
(1)(1)(3)(4)
Amortization of net loss (a)
37 54 1 3 
Settlement charge (b)
(1)— — — 
Net periodic benefit cost (credit)35 54 (2)(2)
Effects of regulation6 (1)1 1 
Net benefit cost (credit) recognized for financial reporting$41 $53 $(1)$(1)
(a)     The components of net periodic cost other than the service cost component are included in the line item “Other income, net” in the consolidated statements of income or capitalized on the consolidated balance sheets as a regulatory asset.
(b)     In the six months ended June 30, 2022, Xcel Energy recognized $1 million in settlement charge true-ups related to the fourth quarter 2021.
In January 2022, contributions of $50 million were made across four of Xcel Energy’s pension plans. Xcel Energy does not expect additional pension contributions during 2022.